The Real Deal New York

Safra finances Theater House deal with $80M loan

Gilardian family closed on the $110M purchase of the 34th St. building
By Konrad Putzier | December 28, 2017 06:01PM

Rendering of 237 East 34th Street (Credit: C3D Architecture via YIMBY)

 

The Gilardian family landed a $80 million mortgage from Safra National Bank of New York to finance the acquisition of the Theater House tower at 237 East 34th Street, property records show.

The Gilardians signed a contract to buy the 23-story new rental apartment building for $110 million in August. The deal closed last week.

Meridian Capital Group’s Rael Gervis, Simon Rosenfeld and Jeffrey Weinberg brokered the financing, and colleagues Lipa LiebermanDavid Schechtman and Abie Kassin brokered the sale.

The seller, Forkosh Development Group, finished constructing the 105-unit, 126,000-square-foot property in March. Safra and Robert Gilardian could not immediately be reached for comment.